New Intermed Uptrend!!

[srinivasants]

Hi Kalyan,
Thanx for ur excellent analysis. I am expecting a resistence around 270. May break out if n-deal hurdles are crossed in the parliament. Laso waiting for Saint's views.

 

[Saint]

Wait lemme try this one!

A buy above 266 with a SL at 247 eh Saint?

If you want to be doubly sure buy above 275.

Hi Kalyan,

Actually would not have entered at all.Basically it had gone 6 bars in a row forming higher low bars on the weekly charts.Always in such times,better to wait for a pullback before doing anything abt it.

But,great analysis,my friend.....Thank You

All the best!
Saint

 

[Saint]

Re: Dear Saint

Can you please take a look at the following stocks---whenever you have time---Micro Tech, Maloo Paper, Rajesh Exports, and Media Video;
especially Maloo Papers, which had a strong breakout---would like to add more.

Thanks,
Best Regards,
Kumar

Hi Kumar,

MALU PAPERS :Nice breakout on the weekly charts,wait for a pullback ,....not about done as yet.But if looking to enter a one third portion,fine but with a SL of 29.Long term charts all in an uptrend....Nice one!

RAJESH EXPORTS :hmmm,these don't seem to care much abt what's happening with the sensex.Once again,looks great on all time frames.Stalk it for an entry on a pullback.

MEDIA VIDEO :Also nice daily breakout....could get in here with a stop loss of 34.5(share size properly as per your money management rules) and add over 66.

MICRO TECH :Also threatening to breakout......could get in here with a stop loss of 212 and add over 300.

All nice ones,Kumar.........no problems as far as trends are concerned.Make sure you do your share sizing properly and adhere to your stops if hit.

All the Best!
Happy Trading!
Saint

 

[ssnkumar]

Hello Saint,

Is it good time to enter Karnataka Bank?

Thanks,
Narendra

 

[Saint]

Hello Saint,

Is it good time to enter Karnataka Bank?

Thanks,
Narendra

Hi Narendra,

Karnataka Bank was looking nice till the last couple of days .....As an intermed trend player ,we are in an iffy zone over here.So wait for this week to end and have a look at the weekly bar.

Shall reassess and post over the weekend.

Saint

 

[ssnkumar]

Hi Narendra,

Karnataka Bank was looking nice till the last couple of days .....As an intermed trend player ,we are in an iffy zone over here.So wait for this week to end and have a look at the weekly bar.

Shall reassess and post over the weekend.

Saint

Thanks for the quick update Saint.
I will wait for your input.

Thanks,
Narendra

 

[kumar7]

Re: Dear Saint: Thanks

Saint,

Thanks for the analysis!

Kumar

 

[Saint]

We have had two up days so far in the markets.....but caution is the key word for now.The Intermediate Uptrend that lasted the last few months has come to an end unless the next few days wipe out all the losses so far made.If that scenario doesn't work out,expect Nifty to make newer lows as it continues in its downward path.

Tomorrow is an important day that will end up dictating how this weekly bar is going to end up as........if NIFTY cannot hold the 3800 levels,expect even more selling and a further fall next week.

So far,this will count only as a rally in a downtrend.......so time for caution if you are holding longs.

As far as longer term trends are concerned,we are still very much in a Primary Uptrend(Bull Market).Whether this is an absolute top is an answer for the predictors,astrologers and gamblers......as of now,we are still very much in a Bull Market.Something more needs to happen for us to change that view.

Would be interesting to see how tomorrow pans out......are we going to retrace all losses or fall further?

All the best!

Saint

 

[sujarouf]

Hi Saint

Can you give your views on the following stocks.

GUJNRECOKE
RDBINDS
HINDMOTORS
GRAVERWEIL
FORTUNEINFO
VIPINDS

Thanks and regards

Suja

 

[shashank]

We have had two up days so far in the markets.....but caution is the key word for now.The Intermediate Uptrend that lasted the last few months has come to an end unless the next few days wipe out all the losses so far made.If that scenario doesn't work out,expect Nifty to make newer lows as it continues in its downward path.

Tomorrow is an important day that will end up dictating how this weekly bar is going to end up as........if NIFTY cannot hold the 3800 levels,expect even more selling and a further fall next week.

So far,this will count only as a rally in a downtrend.......so time for caution if you are holding longs.

As far as longer term trends are concerned,we are still very much in a Primary Uptrend(Bull Market).Whether this is an absolute top is an answer for the predictors,astrologers and gamblers......as of now,we are still very much in a Bull Market.Something more needs to happen for us to change that view.

Would be interesting to see how tomorrow pans out......are we going to retrace all losses or fall further?

All the best!

Saint

Hi Saint,

With Friday and Monday both being up days,can we say that we are going to see new highs?

Your comments would be greatly appreciated.

Shashank